There have been a lot of changes in senior management within the construction industry lately, with CEO’s, CFO’s and managing directors moving within the industry to other main contractors. This in turn has created opportunities for others to take on more senior roles. But are there people within your organisition that will be able to step up and fulfil those roles, or will you need to look externally for the expertise you need?

Is it better to hire or promote internally?

There are pro’s and con’s to both options. Hiring externally can bring in fresh ideas and different expertise which can help facilitate change. Yet being able to promote from within means that you hired right in the first place and factored succession planning into the mix. Ultimately whether you’re hiring for mid or senior management that’s what you want to be aiming for, hiring for today as well as the future.

Why hire for tomorrow?

People are an organisation’s most valuable commodity and finding a person with the right expertise that fits in with the culture of the organisation can take a great deal of effort and time. But that’s not the only reason to hire for the future. Candidates are very aware of career progression and when they apply for a new role one of the critical considerations is whether there is opportunity for growth. Is there scope for learning? Will it be stepping stone into senior management? Or is the role they’re being hired for the only option? Companies that can demonstrate they have a strong culture of succession planning will be able to attract the top candidates, and those value candidates can add will be exponential if they are given the opportunity to grow.

Creating opportunities to broaden experience

Stepping up into senior management is one thing, taking over the reigns as a leader or an organisation is another entirely. If companies want to be able to promote from within, they need to consider the expertise needed to fulfil the top roles, as well as what chess moves need to be put in place to achieve that. The best leaders are those that have diverse experience, having worked in various divisions of the company. This ensures a broader perspective and understanding in the different processes that are needed to achieve success. It’s not just about moving up, consider promoting laterally to allow senior management to broaden their expertise, because that’s when organisations reap the full benefit of their top people.